? RJ's Letter -- Making it Right -- REVERSING THE PRICE CHANGE FOR PREORDER HOLDERS

[Gsxr150]

Same! SELL THEM OUT!!!

I actually removed two shirts from my Amazon wishlist yesterday because I didn't want to wear them anymore if I wasn't going to follow through with my R1S pre-order. Just bought them a few minutes ago to show my support and thanks for making things right. I'm happy to rock a Rivian shirt now that they've kept the dream alive for me and my family. Also bought a shirt from the RivianStories shop since those guys deserve our support as well. They kept the pressure on for the past couple days and really expressed how we all felt.

I'm glad you're happy, but we can't go balls to the walls like nothing happened. Toes back in the water for a while first, my friend.

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[RivRev]

I don't think this reversal had anything to do with cancellations or trying to gain back trust of their loyal customers. It had everything to do with people selling their stock in RIVN. RJ and Rivian are first and foremost concerned about the stock price. Their market cap went down by about $10 billion because of this price increase decision! That is a far greater hit than selling 50,000-70,000 pre-orders at a loss.

Don't get me wrong, this is AMAZING and I am thrilled once again have my pre-order. But Rivian is a public company now; they must look out for shareholders FIRST...Not customers. Don't forget that.

 

[jpal]

We can't act like sheep now... We just got bent over, molested, then kissed on the cheek to make it better.

RJ was going to crush Rivian forever over this. It was his only decision.

Personally, I feel a little sick and a very strong distrust in Rivian right now. I'd love a truck, but can I trust them in the long run?

For me, being able to complete my pre-order at what is now a significant discount to the new going rate helps dispel some of that concern (and my general concern about buying from an unproven startup). Even if things go poorly, you'll very likely be able to sell at or above cost for at least the first couple of years.

 

[Mcf12]

Well played, RJ and team, esp focus on trying to regain trust and relationship with early adopters.

I don't know how hard it is to run a ship this big, building as you sail, so RJ and team get mad #respect from me for this move. Pulling even harder for the team.

 

[Friscorays]

Can I just say I told you so.

You did say not to cancel because decision might be reversed and those people that cancelled were taking a risk of not being let back in but if it were not for the overwhelming number of people that ignored that and did cancel, the reversal would not have happened. I thank those people.

Congrats all you guys. Because of you, RJ got the message. I'm not surprised at the reversal, but I AM surprised that he's letting canceled pre-order to be reinstated. THAT's very cool.

So, the question is: has he regained trust? Or has the damage been done?

On the trust front, damage done. If it had not become quickly evident that the initial announcement could very well destroy them, nothing would have changed. Initial approach was not done without RJ's blessing.

 

[IlliniRivian]

Others have hinted at it, but as part of rebuilding my trust, a head needs to roll for this. Someone advocated for and pushed the approach of immediate price increases. RJ signed off but he isn't going anywhere so he needs to kick someone else to the curb if he wants to show he's really learned a lesson.

 

[jtshaw]

A big plus 1 to many comments here. This was a screw of of enormous scale. Trust will take time to rebuild, but owning the mistake this way was a critical first step. Onward. Can’t wait to take delivery of my R1S in the next few months!

 

[Gsxr150]

Which means now you can buy stock at a very low price, and you get a 95K car for 78K, so you could turn around and resell it right away for 120 or more probably.

And if you do not sell your R1, you could probably own it for a couple of years and still maintain a sticker price

Yeah, assuming Rivians sell at the high price point.... Most of us said we couldn't afford it and were NOT willing to get a lower end model. Don't forget how quickly that changed. It does no good to have a car worth 90k is no one wants to buy it. Man, it's amazing how quickly the tune changes.

 

[fotoflux]

Great news! I am not cancelling my pre-order for any reason now, lol. Resale prices are going to be great on these, lol.

 

[Inkedsphynx]

Sadly, as in any relationship, the feelings today won't be the same as the feelings were last week. Damage is damage, and scars are still scars.

That being said, I think this was a very respectable thing for them to do that they *did not have to do* in order to remain a viable long-term company. As with any relationship, accountability is important. I appreciate that RJ recognized that he *hurt* many people with this decision and committed to trying to make it right.

Some of you won't forgive him today, and probably not tomorrow, but some day, sitting in your glorious R1T/S, blasting down the freeway in near silence, watching the antiquated ICEmobiles of the past slowly drift backwards through your window, you'll smile and appreciate what happened here. JLR wouldn't have done this. Ford wouldn't have done this (Yes, you can argue they'd not have made the mistake in the first place).

[EDIT: Others have said this, I just didn't read far enough in the thread before posting.]
Also, as a side-note I've seen nobody mention - all pre-March 1st pre-order holders just got a gift of free vehicle equity. If all future orders come at a ~20% premium, yours is worth that too, but you didn't pay that price. I sincerely doubt that anyone will ever owe more for a pre-March 1st LE pre-order than it is worth to sell, thanks to this deal. That makes me feel personally feel better about all this, as it means I didn't just get my 15k back, I potentially got that again handed to me in the future

 

[Sully151]

Well,
My letter must have worked.

On to the next letter to change the mind of someone who made a poor decision.

Anyone speak Russian that can translate?

 

[atlastracer]

I wonder if they will keep the options at the new price or not (charger, paint, tonneau cover separate, tow hooks and underbody separate).

I changed my config to remove a few things after the price change. But didn't cancel. I hope *all* the prices go back to what they were.

 

[Gsxr150]

Great news! I am not cancelling my pre-order for any reason now, lol. Resale prices are going to be great on these, lol.

Not true...see my post above.

 

[GMK83]

It’s nice they admit that they’ve failed the community, but I won’t be restoring my canceled pre-order

 

[Friscorays]

I don't think this reversal had anything to do with cancellations or trying to gain back trust of their loyal customers. It had everything to do with people selling their stock in RIVN.....

You don't think the announcement had anything to do with the 13 percent stock loss the next day? I think it had everything to do with the announcement and subsequent reaction; including all those people who cancelled.

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